Terreno Realty Corp.
), the San Francisco, CA-based real estate investment trust (REIT),
is presently on an acquisition spree. Barely a day after it
purchased an industrial property in Capitol Heights, MD, it inked
another acquisition deal on May 14. The acquired property is
located in San Leandro, CA. Valued at $13.3 million, this latest
transaction is in line with the company's usual strategy of
expanding its industrial real estate base.
The new acquisition adds three buildings containing around 129,000
square feet area spanning over 6.0 acres of land to the company's
portfolio. Additionally, the property is wholly leased to one
tenant and it provides 25 dock-high loading positions.
Terreno Realty is engaged in acquiring, owning and operating
industrial real estate in the U.S. Its main areas of operations are
the coastal markets in Los Angeles, Northern New Jersey/New York
City, San Francisco Bay Area, Seattle, Miami and Washington
On May 13, the company purchased the Capitol Heights, MD property
at a price of $18.1 million. In April, it acquired one industrial
distribution building in Inglewood, CA for around $3.5 million. In
first-quarter 2014, Terreno Realty altogether purchased properties
worth $33.8 million. Besides, in fourth-quarter 2013, the company
took over $99.6 million worth of real estate properties covering
680,000 square feet area.
Terreno Realty currently sports a Zacks Rank #1 (Strong Buy). Some
other equity REITs worth considering include
The GEO Group, Inc.
Rexford Industrial Realty, Inc.
Aviv REIT, Inc.
). While both GEO Group and Rexford Industrial Realty sport a Zacks
Rank #1 (Strong Buy), Aviv REIT holds a Zacks Rank #2 (Buy).
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